No respite for Rio

More misery for shareholders in Rio Tinto on Wednesday. The shares were off a further 89p to £11.82 - their lowest level since April 2004 - as speculation of a rights issue continued to swirl round the London market. These rumours have circulated since BHP Billiton effectively pulled the plug on its $62bn offer by announcing that it would not offer assets disposals or structural remedies to secure EU merger clearance for the proposed deal....